Commercial and multifamily originations for 2010 spiked 44% from the year before, the Mortgage Bankers Association
Mortgage bankers lent a reported $118.8 billion in closed commercial and multifamily loans, according the trade group. More than $6 billion of that total is attributable to the fourth quarter
, Freddie Mac
and the Federal Housing Administration
invested $42.8 billion collectively, making them the largest investor group. Life insurance companies and pension funds contributed a total $30.6 billion during the year.
Multifamily properties received the largest amount of funding at $48.9 billion, followed by office properties at $22.6 billion. The MBA estimated this figure is up 170% over 2009.
First liens accounted for 92% of all originations in 2010, the MBA said.
The MBA released the official numbers today, which beat the trade group's forecast
of an annual origination gain of 36% over 2009. That forecast was estimated based on quarterly data.
Earlier this month, the MBA named Wells Fargo (WFC)
the top commercial/multifamily originator of 2010. The San Francisco-based bank was followed by Holiday Fenoglio Fowler (HF)
, Meridian Capital Group
, CBRE Capital Markets
, Prudential Mortgage Capital Co.
, MetLife Real Estate Investments (MET)
, Deutsche Bank Commercial Real Estate (DB)
, Northmarq Capital
and Berkadia Commerical Mortgage
Write to Christine Ricciardi
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Disclosure: The author holds no relevant investments.